friendly society


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friendly society

a business organization which is owned by its members. Friendly societies were the forerunners of many modern Insurance Companies and BUILDING SOCIETIES. See REGISTRAR OF FRIENDLY SOCIETIES, BUILDING SOCIETIES ACT, 1986.

friendly society

an association of individuals (members) who make regular voluntary contributions into a fund upon which they can draw in times of need or to provide themselves with houses. Friendly societies were the forerunners of the modern INSURANCE SOCIETIES and BUILDING SOCIETIES. See REGISTRAR OF FRIENDLY SOCIETIES, BUILDING SOCIETIES ACT 1986.
References in periodicals archive ?
The Oddfellows Friendly Society, in conjunction with the Oddfellows Hotel in Chester, is hosting the event in aid of Marie Curie.
Girls Friendly Society works with girls and young women in churches and community projects and is active worldwide in a total of 23 countries.
The archetypal Friendly Society can be broadly defined as either mutual health insurance or mutual life assurance society.
NEW ROLE Paul Chandler, chief executive of Gateshead-based Traidcraft, has joined the board of friendly society Engage Mutual
A UK friendly society can provide a suitable vehicle for Shari'ah-compliant life assurance (although not for general insurance, unless the business is conducted within the accident, sickness or miscellaneous financial loss classes) and represents a much simpler Shari'ah-compliant structure than normal Takaful models, which would be consistent with the Shari'ah emphasis on Maqasid (objectives) and on substance rather than form.
In 1831 a group of farm labourers in Dorset formed a friendly society to campaign for better wages, refusing to work for less than ten shillings (50p) a week.
Friendly society charities played a subtle role in propagating the average working man's desire to provide for himself and preserve social order and peace.
Engage Mutual is a trading name of Homeowners Friendly Society Limited (HFSL), Registered and Incorporated under the Friendly Societies Act 1992, Registered number 964F, and its wholly-owned subsidiary engage Mutual Funds Limited (eMFSL), registered number 3224780.
Summary: The Nottingham Friendly Society has announced it is in merger talks with nine other societies.
Meanwhile, the Nottingham Friendly Society has said it is in potential merger talks with nine other societies.
Membership in a friendly society was crucial in keeping a good reputation (Cordery 2003, 102).
Money was collected on Sunday mornings from members of Parkdale Road Friendly Society and if you belonged to the society you could use the ladders and go to the parties and outings.